Bill on Bankruptcy: Make-Whole Premiums, Lehman, ResCap
July 17 (Bloomberg Law) — Bankruptcy Judge Sarah A. Hall in Oklahoma City is this week’s “Judge of the Week” on the new video with Bloomberg Law’s Lee Pacchia and Bloomberg News bankruptcy columnist Bill Rochelle. In the bankruptcy of GMX Resources Inc., she decided a dispute that could sanction a drafting technique enhancing lenders’ claims in Chapter 11.
Residential Capital LLC and Lehman Brothers Holdings Inc. tied for honors as “Case of the Week” in view of two important decisions from the U.S. Court of Appeals in New York.
A proposal by two law professors for dealing with quickie sales in Chapter 11 is discussed. The video ends by laying out the last decision by Bankruptcy Judge Bruce Markell who left the bench to teach. Markell concluded that amendments to the Bankruptcy Code mean that a creditor with a disputed claim can’t file an involuntary bankruptcy petition even if part of the claim is undisputed.